- What are two weaknesses in the buy local argument?
- After watching the video are you still going to make an effort to buy local on occasion? Why or why not?
- What economic strengths of buy local are not mentioned in the video?
- From the perspective of Colorado, is trade with Wyoming different from trade with China? Why or why not? Keep in mind that Colorado doesn’t trade with Wyoming or China. Individuals in Colorado purchase items produced in Wyoming (coal probably :-)) and in China (maybe a t-shirt).
1. Two weaknesses in the buying local argument is that you get less diverse people and people lose jobs due to the fact that they don’t need to go through everything to be able to get people to buy products and get people to ship out goods to other places. Another weakness is that even buying locally you aren’t getting something produced fully locally because everything comes from other places and it would be very hard to make without all of these trades.
2. I am not going to make an effort because not everything will be made fully local yes if I see some goods that are advertised to be grown locally then yes but I will not go out of my way to go and only buy that.
3. Something not mentioned is that the places that do buy local can save some money trying to get produce to grow locally to sell. There would not be very much money going out but the money would stay within the country that does buy local.
4. I guess you could say that there is no difference with the trade between the both because individuals can purchase from china or even products in Wyoming Colorado does not directly deal with them but rather gathers resources from places that do get them imported from there.
Macroeconomics 